Staff writers

Liam O’Brien, Assistant Secretary of the Australian Council of Trade Unions, is speaking to the Revenue Summit about how a tax on gas exports could fix Australia’s housing problem.

The ACTU has proposed a 25% tax on revenue from gas exports to replace the “broken” Petroleum Resource Rent Tax (PRRT). 

“Australians are getting ripped off by the gas industry,” Mr O’Brien said.

“The rate of tax we collect from PRRT is laughable… (it is) riddled with loopholes.” 

Analysis by The Australia Institute shows ACTU’s call for a 25% tax on revenue from gas exports to replace the  would raise around $12.5 billion annually, enough to triple the Australian government’s housing expenditure.